MG Motor India Introduces Online Car Finance Platform

MG Motor India has introduced an online car finance platform called MG e-Pay, as an end-to-end solution to provide instant loan approvals. With this, MG aims to offer online car purchase solutions with flexible, seamless, transparent, and quick loan approvals. For this, MG has partnered with ICICI Bank, HDFC Bank, Kotak Mahindra Prime, and Axis Bank. The SAIC-backed automaker says the new online car finance platform will simplify the purchase journey in five clicks and seven steps. The online finance journey will be available to both online and offline booked customers, including existing and new bank customers.

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Gaurav Gupta, Chief Commercial Officer, MG Motor India said, “At MG, we are constantly innovating our digital platforms to stay connected with our customers and ensure the best-in-class experience. After effectively catering to over a million customers through the MG online buying platform, we intend to take a step further and simplify customer journey to avail suitable financing options for buying cars online.”

The customer first needs to select the car and dealership for his choice, fill out the booking form and pay the booking amount.

MG Motor India says the new platform will provide a timely buying experience to its customers. The customer first needs to select the car and dealership of his choice, fill out the booking form and pay the booking amount. Once he/she receives pre-approved loan offers from his bank, the buyer can then proceed to apply for a loan by filling out the loan application. After receiving loan approval on the website and paying the down payment, the bank will disburse the loan in a stipulated period, and the customer will receive an MG vehicle at their doorstep.

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Further, customers have access to pre-approved loan offers from multiple financiers and can customise the loan tenure, amount, and rate of interest. Moreover, MG says a customer can also track loan approval status and sanction letters in real-time. An online executive will assist the customer to get a holistic digital experience, by adding flexibility in online financing solutions, making the journey customer-centric.